Toyota Motor's US September Sales Drop; Electrified Vehicles Account For Nearly 50% Of Sales

Toyota Motor Corporation TM shares are trading slightly lower on Tuesday after the company reported U.S. September and third-quarter sales results.

Toyota Motor North America (TMNA) reported U.S. sales of 162,595 vehicles in September, a decline of 20.3% in volume and 9.9% on a daily selling rate basis.

“In September, nearly 50 percent of our total sales volume was an electrified model, an achievement made possible by our outstanding team and dealers,” said Jack Hollis, executive vice president, Sales, TMNA.

In September, electrified vehicle sales—including hybrids, plug-in hybrids, pure electrics, and fuel cells—accounted for 48.4% of total sales, totaling 78,683 units. This represents a 22.4% increase in volume and a 38.3% rise on a daily selling rate basis.

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Toyota division posted September sales of 140,152 vehicles, down 21.1% on a volume basis and down 10.8% on a DSR basis.

For the third quarter, the division sold 461,883 vehicles, down 10.4% on a volume basis and down 8.0% on a DSR basis. 

Lexus division posted September sales of 22,443 vehicles, down 14.5% on a volume basis and down 3.4% on a DSR basis. For the third quarter, the division sold 80,989 vehicles, up 8.1% on a volume basis and up 11.0% on a DSR basis.

“With 30 electrified vehicles now at Toyota and Lexus dealerships, Lexus sales recording its best-ever year-to-date result in its 35-year history, the all-new all-hybrid Toyota Camry a hit with customers, and Toyota remaining the number one retail brand in the industry, we are preparing to close out 2024 on a high note while continuing to focus on our customers,” Hollis added.

Price Action: TM shares are trading lower by 0.54% to $177.60 at last check Tuesday.

Photo by RYO Alexandre on Shutterstock

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